Banking Quiz

Question 1

What are common features of a bank/F.I.

Answer 1

ATM
Debit Cards
Credit Cards
Being able to contact them for any issues

Question 2

What shouldn’t banks do

Answer 2

Give investing advice or advice on how to spend your money

Question 3

Check Cashing Companies

Answer 3

they charge high fees
usually open 24hrs
nothings free
may take advanatage

Question 4

Checking

Answer 4

Best everyday use
least interest

Question 5

routing #’s

Answer 5

used to identify bank/ financial istituion for direct deposit

Question 6

savings

Answer 6

-earns you interest
-most $ comes from compound interest daily
-not meant to be used everyday (limits amount a month to withdraw)
-minimum balance to keep open
- long-term goals

Question 7

ATM

Answer 7

-inspect
-check your surroundings

Question 8

how do you avoid spending all oyour $ in checking bank accounts

Answer 8

keep records to compare

Question 9

something to know

Answer 9

investing does not guarantee money (long term goal)